Friday, March 10, 2017

US aluminum industry files dumping action against Chinese foil

The antidumping margins alleged by the domestic industry range from 38% to more than 134% of the value of the imported aluminum foil. The domestic industry's countervailing duty petition alleges that Chinese producers benefit from 27 separate government subsidy programs.

The petitions were filed concurrently with the US Department of Commerce and the US International Trade Commission and apply to aluminum foil that is used in a variety of consumer and industrial applications. These include household foil, flexible and semi-rigid cookware, product packaging, automotive and HVAC heat exchangers, among other common uses.

"This action is part of the industry's broad trade strategy to address Chinese overcapacity throughout the value chain," the association said in a statement. According to Heidi Brock, president and CEO of the Aluminum Association, this action -- the first time the Aluminum Association has filed unfair trade cases on behalf of its members in its nearly 85-year history -- "reflects both the intensive injury being suffered by US aluminum foil producers and also our commitment to ensuring that trade laws are enforced to create a level playing field for domestic producers."


Iran to abolish controls on iron ore

Iran is set to lift government controls on iron ore pricing in the domestic market, Tasnim News Agency reported Wednesday, citing the minister of economic affairs and finance, Ali Tayebnia.

Tayebnia was quoted as saying there was a large gap between domestic iron ore prices and international levels, which the government would address by amending the mechanism that determines prices for domestically produced ore.

Tayebnia also said pricing on the Iran Mercantile Exchange (IME) was based on supply and demand and was, therefore, an appropriate way to discover a practical, as well a clear, price for iron ore.

The IME said in January it would launch iron ore trading for the domestic market from February, though no trades of domestic ore have been reported.